Global Magnesium Chloride Market Report - Future Prospects, Growth, Outlook and Forecast 2019 – 2026
Magnesium chloride is a naturally occurring inorganic compound composed of one magnesium and two chloride ions. These salts are typical ionic halides, being highly soluble in water. The hydrated magnesium chloride can be extracted from brine or sea water.
The study projects that the Magnesium Chloride market will register a 3.64% CAGR in terms of revenue, which is expected to reach USD 213 million in 2026 from USD 166 million in 2019.
The increasing demand for MgCl2 in the food, pharmaceutical, textile, construction, agriculture and other end-use industries is flourishing market growth. The use of MgCl2 to reduce the risk of tumors, arteriosclerosis, prostate disease, kidney stones and intestinal diseases is driving its demand for the pharmaceutical industry. In addition, rising demand in the production of magnesia cement, foamed concrete, gas concrete, and glass magnesium glass and tiles is further boosting its demand across residential and commercial construction. The increase in the use of baby food and nutritional supplements are again contributing significantly in market growth. However, the toxicity of magnesium ions calls for cautions and warnings during the use of the compound.
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Magnesium Chloride Market: Type Outlook
l Granules
l Flakes
l Powder
l Others
Magnesium Chloride Market: Application Outlook
l Industrial
l Building Materials
l Food Industry
l Pharmaceutical
l Others
Magnesium Chloride Market: Region Outlook
l North America (U.S., Canada, Mexico)
l Europe (Germany, France, Italy, Spain, U.K., Nordic Countries, Belgium, Russia, Rest of Europe
l Asia Pacific (China, India, Australia, Japan, South Korea, Australia and New Zealand, Rest of Asia Pacific)
l Latin America, Middle East & Africa (Brazil, Nigeria, Argentina, South Africa, GCC Countries.
l Others
Highlight: Key Trends of the Global Magnesium Chloride Market
China Will Maintain the Largest Pioneer in the Production and Sale of Magnesium Chloride
Magnesium chloride is receiving increasing attention in many applications in China, particularly in the production of magnesium metals and derivatives, as well as in pharmaceutical and personal care applications. Primarily, Flakes and Prills forms are used for the said applications. With the increase in demand for magnesium chloride over the past few years, various small players have entered the marketplace with a considerable output capacity to cater to the local demand as well as the demand generated from the overseas market. These manufacturers are committed to producing magnesium chloride in the type of solids (both flakes and prills).
For example, Shouguang Dingsheng Chemical Co., Ltd. pioneered its magnesium chloride production complex, which is capable of producing nearly 20,000 tons of magnesium chloride hexahydrate flakes per year. Weifang Yuze Chemical Co., Ltd.'s annual output of granular and flaked magnesium chloride can reach 100,000 tons. For these reasons, China is a leader in the global magnesium chloride market and is expected to maintain its leading position in the next few years.
The support from the Chinese government is also one of the core factors that is expected to take this market forward in the coming years. In China, the 12th fifth year plan comprises opportunities to support the new materials industry, promote the establishment of large-tonnage advanced magnesium chloride production lines through the leading scientific and technological projects of the country and also promote the industrialization and commercialization of magnesium chloride based products.
Asia-Pacific – The Largest Regional Market
In 2018, Asia Pacific emerged as the leading region with a revenue market share nearly 36.95%. Increase in renovation and refurbishment activities along with the rise in spending over the construction of roads, bridges and other public utility infrastructure is driving the regional market demand. China owing to the highest producer of MgCl2 followed by favorable governmental support to expand the production lines is further boosting the regional market growth.
The growth of the North American magnesium chloride market is strong, mainly due to the significant decline in snow fall in several parts of North America each year. The need to remove snow and ice from roads, bridges and highways has fueled demand for magnesium chloride in the area. The market for magnesium chloride in Europe has also expanded at a stellar rate in recent times.
Building Material Led the Segment in 2018
Based on the application, building material led the segment in 2018. The booming construction sector, increasing demand for new residential and commercial infrastructure, ongoing urbanization is driving the segment growth.
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Leading Company for Driving Industry development
The global Magnesium Chloride market growth is also reliant on the development of active players in the industry, which are Huitai Group, ICL, ICL, Nedmag, Skyline Chemical Corporation, K+S KALI GmbH, Mubychem Group, Dynea AS, JSC Kaustik, Anron Chemicals Co., Enviromedica, Shouguang Haixu Chemical Co., Ltd, Compass Minerals, and etc.
Table of Content
1 Report Overview
1.1 Product Definition and Scope
1.2 PEST (Political, Economic, Social and Technological) Analysis of Magnesium Chloride Market
…
2 Market Trends and Competitive Landscape
3 Segmentation of Magnesium Chloride Market by Types
4 Segmentation of Magnesium Chloride Market by End-Users
5 Market Analysis by Major Regions
6 Product Commodity of Magnesium Chloride Market in Major Countries
7 North America Magnesium Chloride Landscape Analysis
8 Europe Magnesium Chloride Landscape Analysis
9 Asia Pacific Magnesium Chloride Landscape Analysis
10 Latin America, Middle East & Africa Magnesium Chloride Landscape Analysis
11 Major Players Profile
11.1 Huitai Group
11.1.1 Huitai Group Company Profile and Recent Development
11.1.2 Market Performance
11.1.3 Product and Service Introduction
11.2 ICL
11.3 Nedmag
11.4 Skyline Chemical Corporation
11.5 K+S KALI GmbH
11.6 Mubychem Group
11.7 Dynea AS
11.8 JSC Kaustik
11.9 Anron Chemicals Co.
11.10 Enviromedica
11.11 Shouguang Haixu Chemical Co., Ltd
11.12 Compass Minerals
…
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Key Stakeholders
l Magnesium Chloride manufacturers
l Raw material suppliers of Magnesium Chloride
l Downstream vendors and end-users
l Traders, distributors, and resellers of Magnesium Chloride
l Magnesium Chloride industry associations and research organizations
l Product managers, Magnesium Chloride industry administrator, C-level executives of the industries
l Market Research and consulting firms
Years considered for the study
l Base Year: 2018
l Estimated Year: 2019
l Forecast Period: 2019 to 2026
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